NASDAQ OMX Group Inc (NDAQ) – May 13, 2009

I charted NDAQ at 11:15 am on May 13, 2009 while it was trading at $17.99.  I sold NDAQ naked puts yesterday at the June 17.50 strike.

• NDAQ hit its lower trend line of higher lows
• NDAQ’s Williams %R indicator is hitting the bottom of its overbought range for both its 14 and 28 day indicators

Opinion = NDAQ will likely move up from here.  Based only on the two bullets above, NDAQ has moved up when these conditions met in the past.  All trends break eventually, but I don’t think this is NDAQ’s time yet.  I sold June 17.50 naked puts on it yesterday and even said in my post that I thought it would hit close to $18.00.  It did and now I think it’s ready to recover, again.